FSC Chairman meets with heads of financial holding companiesNov 20, 2023

Chairman Kim Joo-hyun of the Financial Services Commission met with the heads of major financial holding companies along with Governor Lee Bok-hyun of the Financial Supervisory Service on November 20. At the meeting, the authorities held talks on ways to bolster financial companies' social responsibilities and strengthen transparency in their corporate governance structure. Speaking about the recent challenges facing small business owners amid the high interest rate and high price environment coupled with a slowing growth in the global economy, Chairman Kim said that it is crucial to come up with ways to help reduce the increased interest payment burden for small business owners and the self-employed. Starting with today's meeting, the FSC and the FSS plan to hold subsequent meetings with each individual sector, such as the banking, financial investment and insurance sectors, to ensure mutual understanding.